With coupons, the key is combining your coupon with a sale price. Then you get the item you need for an ultra-low price, perhaps even for free. But how will you know that the price is an ultra-low price? Is it the right time to play your coupon?

To know, you need to keep a price list. You can use a notebook, or Excel, or another system that works for you. Make a column for the name of the item and a column for price per unit. It's up to you how specific you want to be. For example, toilet paper. Your price list could be as simple as:


ItemPrice
Toilet paper$.52/double roll


or as detailed as:


ItemBrandPriceStoreDate
Toilet paperCharmin$.52/double rollWalgreens11/08/08


You can also keep track of the normal prices at your stores for items you purchase regularly. By tracking the normal prices and your low prices, you'll be able to spot a deal when it comes and know to stock up.

If the deal is a great one, you want to purchase 2-3 months worth of the item. If it's an earth-shattering deal, you may want to pick up even more. By buying more at the ultra-low price, you won't run out and you can wait for the next great sale.

Your assignment for this week is to start a price list and get prices for at least ten items you use on a regular basis.